The Wall Street Journal- European Central Bank Announces Data Theft The European Central Bank said Thursday that email addresses and other contact information of people who signed up for ECB events were stolen after one of its databases was hacked into, but offered reassurances that market-sensitive information was well protected. “There had been a breach… Continue reading The ECB Was Hacked
The Economist – Money-market funds: Faking the buck America sets new rules for a common short-term investment By a 3-2 vote on July 23rd, the SEC at last approved two big changes. The first allowed funds to impose fees on redemptions or suspend them for up to ten days to prevent runs. The second requires… Continue reading Money Funds’ New Rules
Reuters – James Saft: Coming up: five lean but volatile years Even adjusting for extraordinarily low interest rates, global equities are expensive and finding double-digit annual real returns over the next five years is going to be tough. What’s worse, key markets, notably the U.S., are so overpriced that there is a high likelihood of… Continue reading Are Sub-Par Returns Coming?
Comment In the video above, Mark Hanson and Rick Santelli discuss the poor condition of today’s housing market. MarketWatch.com – Record downward revision for home sales slashes second-quarter progress In a fresh kick to the economy’s guts, a record downward revision to recent data on new-home sales slashed gains that economists had previously thought were… Continue reading The Weak Housing Market
The Financial Times – John Authers: Bubbles are forming in the credit market Auto loans heat up, but do not fear repeat of subprime mortgages But the next bubbles do seem to be brewing in credit. The asset class that drove the financial crisis in 2008, has been inflated again, by the same heady mixture… Continue reading Bubble Talk
MoneyBeat (WSJ Blog) – For Main Street, Stocks Are Out; ‘Sharing’ Is In Wall Street has lost Main Street. Anecdotally at least, that may seem obvious. Trading volumes at the big banks have been down. If the equities market was crashing, or just in a long-term downspin, that might be easily understandable. But the market… Continue reading The Public Hates Stocks
The Wall Street Journal – Investors Retreat From Junk Bonds Prices Tumble, as Some Firms Delay or Cancel Debt Sales Investors are selling junk bonds at the fastest pace in more than a year, as fresh interest-rate fears and geopolitical turmoil amplify valuation concerns following a long rally. Prices on bonds issued by lower-rated U.S.… Continue reading Problems In Junk Bond Land?
The Financial Times – US looks at ‘ultra-long’ Treasury bonds Low yields spark call to consider maturities over 30 years Ahead of a regular meeting with some primary dealers next week, the US Treasury has asked them to “please comment on the demand for long-duration sovereign products. Should Treasury consider issuing a security with a… Continue reading Is The Treasury Considering New Issuance?
[hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/072414.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /] Comment Yesterday we hosted an internal conference call were we discussed various topics related to the markets. To view the webcast, click on the image above.
The Economist – Buttonwood: Trillion-dollar boo-boo Bad governments cost investors a fortune ONE trillion dollars. That may be the cost to Russian investors of Vladimir Putin’s rule. It is the equivalent of about $7,000 for every Russian citizen. The calculation stems from the fact that investors regard Russian assets with suspicion. As a result, Russian… Continue reading Bad Governments Cost You Money
The Economist – The Big Mac index: A basket of sliders Our flame-grilled guide to currencies suggests the dollar is getting dearer Our Big Mac index is based on the theory of purchasing-power parity. It says that in the long run exchange rates ought to adjust so that a basket of goods and services costs… Continue reading The Big Mac Index
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